finnCap - Somero Enterprises: initiation of coverage
SOM
,
FCAP
Tue, 09 Feb 2016, 11:00am GMT
Somero Enterprises®, Inc. is a leading manufacturer of technologically advanced concrete placing equipment and associated machinery. Somero Enterprises® was founded in 1985 and has grown and prospered by delivering superior products to an international market.
As the Company is incorporated in the USA, not the UK, the rights of shareholders may be different from the rights of shareholders in a UK incorporated company. For example, the company is not subject to the UK City Code on Takeovers and Mergers.
Industry: Technology
Contact: 020 7220 1666
http://www.antisoma.com/
In view of management’s target to double sales by 2018 and the strong operational drop-through expected, finnCap still consider the shares to
be significantly undervalued. They initiate coverage with a target price of 185p, based on a 2016 P/E target of 12.5x versus an attractive current valuation of 9.7x.